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JUST IN: 🇮🇳 Ex-MP Ritesh Pandey urges the govt again to cut 30% crypto tax, scrap 1% TDS & bring clear laws.
He also urged the GOI during 2022 Budget Session for the same.
@pushpendrakum Bhar Bhar ke Tax saans lene pe tax , khujane pe Tax, zayda phone Chalane pe Tax , zayda khana khane pe Tax .. yehi hai apne Finance minister ki samajh 🤣🤣🤣
A middle class person was telling his problems to the India 🇮🇳 Finance Minister Nirmala Sitaraman.
Person: We take all the risk, invest our own money and the government does not invest anything
but
The government takes away our entire profit through many taxes like CGST, IGST, Stamp Duty, STT.
He also said that buying a house in a city like Mumbai has become a nightmare for a person.
When the turn of the Finance Minister came to answer this question
She laughed and said I don't have the answer to that.
Now understand that the Finance Minister does not have an answer to the biggest problem of the middle class.
Many crypto traders are tweeting #reducecryptotax hashtag but so far no reply from finance Ministery.
1% tds and 30% taxation is killing India 🇮🇳 crypto eco system.
🚀🚀 Here’s my request to the Finance Minister on Current Crypto Tax:
✅ Equalize Crypto Tax with Stocks! (15% for Short term & 10% for Long term)
✅ Allow Loss Setoff & Carry Forward ✅
✅ Remove 1% TDS, opt for SFT like stock exchanges
✅ Provide Tax Exemption for new Mining ⛏️ / Validator 💻 companies in India 🇮🇳
✅ Allow UPi access on deposit
#reducecryptotax
What am I missing?
US approved Bitcoin ETF ✅
Hong Kong Files for Bitcoin ETF ✅
Future opportunities are based on #btc and crypto.
Let INDIANS 🇮🇳 trade with their hard earned money with appropriate crypto tax that helps both users and govt.
#reducecryptotax
Crypto taxation in Indian 🇮🇳 is higher than any country.
High taxation will impact growth of :
1. web3
2. crypto trading
3. metaverse
4. public blockchain
5. web3 developer career
New people will scare with high taxation. They may not able to make career
#reducecryptotax
#reducecryptotax Indian law makers don't understnd the crypto technology and completely uneducated. Banning won't help Indians to grow. This will only effect retail investors. Big players are having connection all over the world, Banning won't effect them, only retail suffer.